Pershing Square Capital Management Portfolio holdings
Pershing Square Capital Management, L.P., founded in 2004 by Bill Ackman and headquartered in New York City, is a prominent American hedge fund known for its concentrated, activist investment approach, managing over $18 billion in assets as of recent years. Starting with $54 million from Ackman’s personal funds and a seed investment from Leucadia National, the firm focuses on acquiring significant stakes in a small portfolio of large-cap North American companies, often pushing for operational and governance changes to unlock shareholder value, as seen in high-profile campaigns targeting Wendy’s, McDonald’s, and Herbalife. In 2014, Ackman launched Pershing Square Holdings, a closed-end fund listed on Euronext Amsterdam and the London Stock Exchange, raising $3 billion in its IPO, providing a permanent capital base to support its long-term strategies. Renowned for bold moves—like a $2.6 billion profit betting on a market crash in 2020—and a research-intensive, value-driven philosophy, Pershing Square has solidified its reputation as a formidable player in the investment world under Ackman’s leadership.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$1.15B |
| 2 |
Alphabet (Google) Class A
GOOGL
|
+$151M |
| 3 |
Brookfield
BN
|
+$8.66M |
| 4 |
Hilton Worldwide
HLT
|
+$7.1M |
| 5 |
Hertz
HTZ
|
+$1.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian Pacific Kansas City
CP
|
+$1.04B |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 35.1% |
| 2 | Technology | 20.59% |
| 3 | Financials | 18.54% |
| 4 | Communication Services | 15.06% |
| 5 | Real Estate | 9.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Uber
UBER
$134B
| $2.83B | 20.59% |
30,301,161
| – | – |
|
|
2
Brookfield
BN
$102B
| $2.55B | 18.54% |
61,740,596
+233,610
| +0.4% | +$8.66M |
|
3
Restaurant Brands International
QSR
$25.1B
| $1.52B | 11.11% |
23,000,914
| – | – |
|
|
4
Amazon
AMZN
$2.5T
| $1.28B | 9.31% |
+5,823,316
| New | +$1.15B |
|
5
Howard Hughes
HHH
$3.93B
| $1.27B | 9.27% |
18,852,064
| – | – |
|
6
Chipotle Mexican Grill
CMG
$40.8B
| $1.21B | 8.81% |
21,541,177
| – | – |
|
|
7
Alphabet (Google) Class C
GOOG
$3.9T
| $1.12B | 8.17% |
6,324,031
| – | – |
|
|
8
Alphabet (Google) Class A
GOOGL
$3.91T
| $945M | 6.88% |
5,362,980
+925,000
| +21% | +$151M |
|
|
9
Hilton Worldwide
HLT
$74B
| $807M | 5.88% |
3,030,578
+29,808
| +1% | +$7.1M |
|
|
10
Hertz
HTZ
$572M
| $104M | 0.76% |
15,241,127
+241,127
| +2% | +$1.5M |
|
|
SEG
11
Seaport Entertainment Group
SEG
$333M
| $93.7M | 0.68% |
5,023,780
| – | – |
|
|
12
Canadian Pacific Kansas City
CP
$82B
| – | – |
-14,799,796
| Closed | -$1.04B |
|
Similar funds
Pershing Square Capital Management's Q2 2025 Portfolio in Review
As of Q2 2025, Pershing Square Capital Management held 12 positions worth $13.7B, up 15% from $11.9B the previous quarter. Its ten largest holdings account for 99% of the portfolio.
Pershing Square Capital Management's Q2 2025 filing shows 1 new, 4 increased and 1 closed positions. Its largest new stake was Amazon: 5,823,316 shares worth $1.28B. The largest sale was Canadian Pacific Kansas City, an estimated $1.04B.
By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, up from 28% a quarter earlier, followed by Technology and Financials.
- Pershing Square Capital Management's largest Q2 2025 buy was Amazon: 5,823,316 shares worth $1.28B.
- Pershing Square Capital Management added most to Alphabet (Google) Class A in Q2 2025, an estimated $151M increase.
- Pershing Square Capital Management fully exited Canadian Pacific Kansas City in Q2 2025, selling an estimated $1.04B.
- Pershing Square Capital Management's ten largest holdings make up 99% of its $13.7B portfolio in Q2 2025.
- Pershing Square Capital Management opened 1 new position and closed 1 in Q2 2025.
- Pershing Square Capital Management's portfolio value rose 15% quarter-over-quarter to $13.7B.
Based on Pershing Square Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.